Affordable Housing
- Housing that is priced so that households with low incomes can afford to purchase and very low incomes can afford to rent it.
- Low income households should not pay more than 30% of their income for the rent and utilities or mortgage or they will not have enough left over to pay for other necessities.
Affordable Housing Statistics
- Income Needed to Afford a Two-Bedroom Apartment, 2014
- North Carolina: $29,897 Orange County: $33,720
- Housing Wage, 2014 (Hourly Wage Needed to Afford a Two-Bedroom Apartment)
- North Carolina: $14.37 Orange County: $16.21
Funding for Affordable Housing - Primary Governmental Funding Sources
- HOME Investment Partnership Program
- Orange County Community Development Block Grant (CDBG) Program
- Orange County Housing Trust Fund
- North Carolina Housing Finance Agency
Other Statistics
- Total Amount of Public Dollars Spent FY 2012 to 2013: $890,617
- Total Number of New Units Assisted in FY 2012 to 2013: 17
- Total Number of Existing Units Assisted in FY2012 to 2013: 77
(includes Housing Rehabilitation, Urgent Repair, Second Mortgage Assistance and rental assistance)